[Federal Register Volume 82, Number 94 (Wednesday, May 17, 2017)]
[Notices]
[Pages 22665-22667]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-09992]


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FEDERAL DEPOSIT INSURANCE CORPORATION


Agency Information Collection Activities: Proposed Collection 
Renewals; Comment Request (3064-0092; -0149 & -0182)

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice and request for comment.

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SUMMARY: The FDIC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on the renewal of existing 
information collections, as required by the Paperwork Reduction Act of 
1995. Currently, the FDIC is soliciting comment on renewal of the 
information collections described below.

DATES: Comments must be submitted on or before July 17, 2017.

ADDRESSES: Interested parties are invited to submit written comments to 
the FDIC by any of the following methods:
     http://www.FDIC.gov/regulations/laws/federal/notices.html.
     Email: [email protected]. Include the name and number of 
the collection in the subject line of the message.
     Mail: Manny Cabeza (202-898-3767). Counsel, MB 3007, 
Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, 
DC 20429.
     Hand Delivery: Comments may be hand-delivered to the guard 
station at the rear of the 17th Street Building (located on F Street), 
on business days between 7:00 a.m. and 5:00 p.m.
All comments should refer to the relevant OMB control number. A copy of 
the comments may also be submitted to the OMB desk officer for the 
FDIC: Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503.

FOR FURTHER INFORMATION CONTACT: Manny Cabeza at the FDIC address noted 
above.

SUPPLEMENTARY INFORMATION: Proposal to renew the following currently 
approved collections of information:
    1. Title: Community Reinvestment Act.
    OMB Number: 3064-0092.
    Form Number: None.
    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

----------------------------------------------------------------------------------------------------------------
                                                                                                        Total
                                                                            Estimated     Average     estimated
        Source and type of burden                   Description             number of    estimated      annual
                                                                           respondents    time per      burden
                                                                                          response     (hours)
----------------------------------------------------------------------------------------------------------------
345.25(b) Reporting.....................  Request for designation as a               1            4            4
                                           wholesale or limited purpose
                                           bank--Banks requesting this
                                           designation shall file a
                                           request in writing with the
                                           FDIC at least 3 months prior
                                           to the proposed effective date
                                           of the designation.
345.27 Reporting........................  Strategic plan--Applies to                 7          400        2,800
                                           banks electing to submit
                                           strategic plans to the FDIC
                                           for approval.
345.42(b)(1) Reporting..................  Small business/small farm loan         * 393            8        3,144
                                           data--Large banks shall and
                                           Small banks may report
                                           annually in machine readable
                                           form the aggregate number and
                                           amount of certain loans.
345.42(b)(2) Reporting..................  Community development loan             * 393           13        5,109
                                           data--Large banks shall and
                                           Small banks may report
                                           annually, in machine readable
                                           form, the aggregate number and
                                           aggregate amount of community
                                           development loans originated
                                           or purchased.
345.42(b)(3) Reporting..................  Home mortgage loans--Large             * 393          253       99,429
                                           banks, if subject to reporting
                                           under part 203 (Home Mortgage
                                           Disclosure (HMDA)), shall, and
                                           Small banks may report the
                                           location of each home mortgage
                                           loan application, origination,
                                           or purchase outside the MSA in
                                           which the bank has a home/
                                           branch office.
345.42(d) Reporting.....................  Data on affiliate lending--              200           38        7,600
                                           Banks that elect to have the
                                           FDIC consider loans by an
                                           affiliate, for purposes of the
                                           lending or community
                                           development test or an
                                           approved strategic plan, shall
                                           collect, maintain and report
                                           the data that the bank would
                                           have collected, maintained,
                                           and reported pursuant to Sec.
                                            345.42(a), (b), and (c) had
                                           the loans been originated or
                                           purchased by the bank. For
                                           home mortgage loans, the bank
                                           shall also be prepared to
                                           identify the home mortgage
                                           loans reported under HMDA.
345.42(e) Reporting.....................  Data on lending by a consortium           75           17        1,275
                                           or a third party--Banks that
                                           elect to have the FDIC
                                           consider community development
                                           loans by a consortium or a
                                           third party, for purposes of
                                           the lending or community
                                           development tests or an
                                           approved strategic plan, shall
                                           report for those loans the
                                           data that the bank would have
                                           reported under Sec.
                                           345.42(b)(2) had the loans
                                           been originated or purchased
                                           by the bank.

[[Page 22666]]

 
345.42(g) Reporting.....................  Assessment area data -Large            * 393            2          786
                                           banks shall and Small banks
                                           may collect and report to the
                                           FDIC a list for each
                                           assessment area showing the
                                           geographies within the area.
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
    Total Reporting.....................  ...............................  ...........  ...........      120,147
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
345.42(a) Recordkeeping.................  Small business/small farm loan         * 393          219       86,067
                                           register--Large banks shall
                                           and Small banks may collect
                                           and maintain certain date in
                                           machine-readable form.
345.42(c) Recordkeeping.................  Optional consumer loan data--             75          326       24,450
                                           All banks may collect and
                                           maintain in machine readable
                                           form certain data for consumer
                                           loans originated or purchased
                                           by a bank for consideration
                                           under the lending test.
345.42(c)(2) Recordkeeping..............  Other loan data--All banks               100           25        2,500
                                           optionally may provide other
                                           information concerning their
                                           lending performance, including
                                           additional loan distribution
                                           data.
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
    Total Recordkeeping.................  ...............................  ...........  ...........      113,017
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
345.41(a) 345.43(a); (a)(1); (a)(2);      Content and availability of            3,971           10       39,710
 (a)(3); (a)(4); (a)(5); (a)(6); (a)(7);   public file--All banks shall
 (b)(1); (b)(2); (b)(3); (b)(4); (b)(5);   maintain a public file that
 (c); (d) Disclosure.                      contains certain required
                                           information.
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
    Total Disclosure....................  ...............................  ...........  ...........       39,710
        Total Estimated Annual Burden...  ...............................  ...........  ...........     272,874
----------------------------------------------------------------------------------------------------------------
* The number of Large Banks reporting decreased from 253 to 243. However, 150 Small Banks are voluntarily
  collecting and reporting data, and the number of respndents has been adjusted to reflect this.

    General Description of Collection: The Community Reinvestment Act 
regulation requires the FDIC to assess the record of banks and thrifts 
in helping meet the credit needs of their entire communities, including 
low- and moderate-income neighborhoods, consistent with safe and sound 
operations; and to take this record into account in evaluating 
applications for mergers, branches, and certain other corporate 
activities.
    There is no change in the method or substance of the collection. 
The overall increase in burden hours is a result of an increase in the 
number of Small Banks electing to voluntarily respond in certain 
categories. The increase is also, in small part, due to an adjustment 
in the agency's estimate of the time required to submit strategic plan 
applications from 275 hours per respondent to 400 hours per respondent.
    2. Title: Affiliate Marketing Consumer Opt-Out Notices.
    OMB Number: 3064-0149.
    Form Number: None.
    Affected Public: Insured state nonmember banks, state savings 
associations that have affiliates and consumers that have a 
relationship with the foregoing.
    Burden Estimate:

----------------------------------------------------------------------------------------------------------------
                                                                                                       Total
                                                     Estimated    Estimated time   Frequency of      estimated
                 Type of burden                      number of     per response      response      annual burden
                                                    respondents       (hours)                         (hours)
----------------------------------------------------------------------------------------------------------------
Implementation..................................           \1\ 1              18               1              18
Ongoing.........................................         \2\ 990               2               1           1,980
Consumer Opt-Out................................     \3\ 857,939             * 5               1          71,495
                                                 ---------------------------------------------------------------
    Total Estimated Annual Burden...............  ..............  ..............  ..............          73,493
----------------------------------------------------------------------------------------------------------------
\1\ All respondents have now gone through implementation of their programs. Accordingly, the number of
  respondents facing implementation burden has been reduced from 990 to 1 as a placeholder for any institution
  that elects to start sharing consumer information with its affiliates in the future.
\2\ The number of respondents facing ongoing burden remains unchanged at 990.
\3\ The FDIC estimates that 944 out of the 990 banks impacted by this information collection are community banks
  having an average of 12,098 consumers and the remaining 46 are non-community (larger) banks having an average
  of 124,745 consumers. The FDIC estimates that 5% of the 17,158,782 estimated consumers at these 990
  institutions (857,939 consumers) elect to Opt-Out of affiliate marketing information sharing.
* Minutes.

    General Description of Collection: Section 214 of the FACT Act 
requires financial institutions that wish to share information about 
consumers with their affiliates, to inform such consumers that they 
have the opportunity to opt out of such marketing solicitations. The 
disclosure notices and consumer responses thereto comprise the elements 
of this collection of information.
    There is no change in the method or substance of this information 
collection. There has been a net increase in the estimated total annual 
burden primarily because of an upward adjustment in the agency's 
estimate of the number of consumers at FDIC-supervised institutions 
that elect to opt-out of affiliate marketing information sharing. The 
increase in burden due to the adjustment in the estimated number of 
consumers affected was offset by the fact that banks have completed the 
implementation phase of the information collection; the estimated 
ongoing time per response for affected institutions decreasing from 18 
hours at implementation to 2 hours ongoing.
    3. Title: Retail Foreign Exchange Transactions.
    OMB Number: 3064-0182.
    Form Number: None.

[[Page 22667]]

    Affected Public: Insured state nonmember banks and state savings 
associations.
    Burden Estimate:

----------------------------------------------------------------------------------------------------------------
                                                                                                       Total
                                           Number of    Estimated time                               estimated
            Type of burden                respondents    per response     Frequency of response    annual burden
                                                                                                      (hours)
----------------------------------------------------------------------------------------------------------------
Reporting.............................               1              16  On Occasion.............              16
Recordkeeping.........................               1             166  On Occasion.............             166
Disclosure............................               1           1,332  On Occasion.............           1,332
                                       --------------------------------                          ---------------
    Total Estimated Annual Burden.....  ..............  ..............  ........................           1,514
----------------------------------------------------------------------------------------------------------------

    General Description of Collection: This information collection 
implements section 742(c)(2) of the Dodd-Frank Act (7 U.S.C. 2(c)(2)(E) 
and FDIC regulations governing retail foreign exchange transactions as 
set forth at 12 CFR part 349, subpart B. The regulation allows banking 
organizations under FDIC supervision to engage in off-exchange 
transactions in foreign currency with retail customers provided they 
comply with various reporting, recordkeeping and third-party disclosure 
requirements specified in the rule. If an institution elects to conduct 
such transactions, compliance with the information collection is 
mandatory.
    Reporting Requirements--Part 349, subpart B requires that, prior to 
initiating a retail foreign exchange business; a banking institution 
must provide the FDIC with a notice certifying that the institution has 
written policies and procedures, and risk measurement and management 
systems and controls in place to ensure that retail foreign exchange 
transactions are conducted in a safe and sound manner. The institution 
must also provide information about it intends to manage customer due 
diligence, new product approvals and haircuts applied to noncash 
margin.
    Recordkeeping Requirements--Part 349 subpart B requires that 
institutions engaging in retail foreign exchange transactions keep 
full, complete and systematic records of account, financial ledger, 
transaction, memorandum orders and post execution allocations of 
bunched orders. In addition, institutions are required to maintain 
records regarding their ratio of profitable accounts, possible 
violations of law, records of noncash margin and monthly statements and 
confirmations issued.
    Disclosure Requirements--The regulation requires that, before 
opening an account that will engage in retail foreign exchange 
transactions, a banking institution must obtain from each retail 
foreign exchange customer an acknowledgement of receipt and 
understanding of a written disclosure specified in the rule and of 
disclosures about the banking institution's fees and other charges and 
of its profitable accounts ratio. The institution must also provide 
monthly statements to each retail foreign exchange customer and must 
send confirmation statements following every transaction. The customer 
dispute resolution provisions of the regulation require certain 
endorsements, acknowledgements and signature language as well as the 
timely provision of a list of persons qualified to handle a customer's 
request for arbitration.
    There is no change in the method or substance of the collection. At 
present no FDIC-supervised institution is engaging in activities that 
would make them subject to the information collection requirements. 
FDIC originally estimated that 3 institutions would be impacted by the 
rule. The agency is reducing the estimated number of respondents to one 
(1) as a placeholder in case an institution elects to engage in covered 
activities in the future. There has been no change in the frequency of 
response or in the estimated number of hours required to respond. 
Because of the reduction in the estimated number of respondents from 
three (3) to one (1), the estimated annual burden has decreased.

Request for Comment

    Comments are invited on: (a) Whether the collections of information 
are necessary for the proper performance of the FDIC's functions, 
including whether the information has practical utility; (b) the 
accuracy of the estimates of the burden of the information collections, 
including the validity of the methodology and assumptions used; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collections of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. All 
comments will become a matter of public record.

    Dated at Washington, DC, this 12th day of May 2017.

Federal Deposit Insurance Corporation.
Ralph E. Frable,
Assistant Executive Secretary.
[FR Doc. 2017-09992 Filed 5-16-17; 8:45 am]
 BILLING CODE 6714-01-P